A Forensic Accountant’s Process The purpose of this article is to explain how forensic accountants look at the big picture, both financially and by understanding past behaviors, to uncover items that may help you or your client. The author shares that some of his biggest “wins” in fraud investigations started with broad allegations; however, the techniques used to identify and quantify these allegations were what really lead the author to success. [su_pullquote align=”right”]Resources: Forensic Accounting Academy© Forensic Accounting Specialty Webinars Fraud Deterrence And Fraud Detection Introduction To Fraud Risk Management[/su_pullquote] I have conducted hundreds of investigations involving allegations of fraud…
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Understand the Cyber Security Threat Landscape and Threats to the Accounting Industry Do you feel like your firm’s data is safe? Do you feel like your client’s sensitive information is secure? Do you sleep each night feeling secure that you will not be hit by a data breach? If you answered yes to all three of those questions, it is time to wake up to the real risks you are faced with. You need to make sure to read the rest of this article and understand the real cyber threats you are faced with every single day when it comes…
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Leaders of the accounting profession have made substantial efforts to increase diversity in the workforce, but a survey suggests that more needs to be done to improve inclusion of African-American staff. Among other things, leaders should seek to prevent unconscious bias and ensure that informal networks are welcoming of diverse membership. To read the full article in the Journal of Accountancy, click: Challenges Continue for African-American Accountants.
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When attempting to quantify the return on investment of diversity programs, companies should start by monitoring metrics such as employee engagement scores. Once this process is complete, companies should focus on improving problem areas with incremental, quantifiable goals. To read the full article in Forbes, click: Tips for Evaluating the ROI of Diversity Programs.
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Deloitte and Accenture were among the top large companies for women in a ranking by Comparably that accounted for factors such as workplace culture and compensation. To read the full article in Women Entrepreneur, click: Ranking Highlights Top Companies for Women, Diversity.
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The Role of the Expert in 21st Century Dispute Resolution—A Recovering Judge’s Perspective As technology evolves, the role of the expert and the interplay between experts and the judiciary will evolve. This change is already underway. In this article, QuickRead presents the presentation made by Retired Judge Platt at the NACVA and the CTI’s Annual Consultants’ Conference, held in Salt Lake City. Judge Platt describes this evolving landscape and employment opportunities. Introduction I appreciate this opportunity to discuss the role of the “expert” in the 21st Century profession of dispute resolution from the perspective of what I now call myself,…
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Finding the Culprits Whatever happened to the expected post-acquisition income? The author identifies the potential culprits. One of my favorite games as a kid was the murder-mystery classic Clue. How many of you remember trying to deduce the culprit, the murder weapon and the room in which the attack took place? “I think it was Colonel Mustard in the kitchen with the candlestick.” “I think it was Mrs. Peacock in the hall with the knife.” “I think it was Mrs. White in the billiard room with the lead pipe.” Clue was a great “whodunit” game in which players had to…
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Here is a look at how one accounting firm has sought to boost diversity by offering flexible work-life balance initiatives as well as providing training and developmental programs meant to aid career advancement. To read the full article in The CPA Journal, click: Strategies to Retain and Advance Female Employees.
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Publicly sharing diversity numbers—positive and negative—can be beneficial to companies because it shows a willingness to openly address diversity issues. Sharing the numbers also allows for a company to be held accountable for future progress in reaching diversity goals. To read the full article in CNN, click: Why Sharing Diversity Data Publicly can be Good for Your Company.
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With Generation Z coming into the workforce, employers will need to create development programs that cater to the needs of this demographic group. These programs may involve self-directed learning and a focus on soft skills. To read the full article in Chief Learning Officer, click: Designing Development Programs that Work for Gen Z.
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The Use of Common Sense and Experience The acceptance of tools such as Monte Carlo simulation and Option Pricing models has changed our ability to value options, warrants, and derivative instruments. The list goes on and on. However, as many of us are fond of saying, valuation is as much an art as it is a science. Many of our tools address the science, not so many of them address the art. In my opinion, one of the most underutilized tools that addresses the art side, may in fact be our own common sense. “Common sense is not so common.”-Voltaire…
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Avoid Traps with a Timely Appraisal New basis-consistency requirements make defensible valuations of inherited property even more important. Informed taxpayers are aware that only the wealthiest individuals should have concerns about the federal estate and gift tax, for gifts given and decedents dying in 2018 through 2025. Thanks to the legislation known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, the basic exclusion amount is more than $11 million per individual ($22 million for married couples), indexed for inflation. Now, estate planners are spending less time and using fewer resources trying to avoid federal estate taxes for clients.…
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With millennials constituting a significant chunk of the workforce, it is important for employers to avoid preconceived notions about this generation. Leaders should stay focused on the future and recognize that asking the right questions can encourage self-reflection among employees. To read the full article in Quartz at Work, click: Steps for Becoming a Better Leader for Millennial Employees.
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The Securities and Exchange Commission has approved amendments to Regulation S-K aimed at simplifying and modernizing disclosure by public companies, consultants and money managers. The amendments are required under the Fixing America’s Surface Transportation Act of 2015. To read the full article in Pensions & Investments, click: SEC Simplifies Disclosure by Public Companies, Money Managers.
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On March 4, 2019, the U.S. Supreme Court held that the Ninth Circuit’s expanded view of “full costs” in copyright cases was improper, going beyond the “costs” typically available to litigants in federal court. Rimini Street, Inc. et al., v. Oracle USA, Inc., et al., No. 17-1625, slip op. (U.S. Mar. 4, 2019.) This ruling overturns a $12.8 million award granted to Oracle USA Inc. for its “nontaxable costs,” which included expert witness fees, jury consulting fees and electronic discovery expenses. To read the full article in Taft, click: Copyright Litigants Entitled to “Full” Costs, Not “Extra” Costs.
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Consider Michael Jackson, the Empire State Building, and Myriad of Value Drivers (Part II of II) In this concluding article, the second of a two-part series, the authors conclude presenting additional illustrations that underscore their primary thesis: that in many businesses, value is illusory and there are a host of factors that are unanticipated and cannot be modeled. In this concluding article, the second of a two-part series, the authors conclude presenting additional illustrations that underscore their primary thesis: that in many businesses, value is illusory and there are a host of factors that are unanticipated and cannot be modeled.…
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Options that Provide Superior Results Compared to Renting Marketers of accounting and valuation firms have long used e-mail marketing to nurture new and existing prospects. But what is the best way to develop a good list in the first place? This article provides seven proven strategies for building your firm’s e-mail list faster. Marketers of accounting and valuation firms have long used e-mail marketing to nurture new and existing prospects. But what is the best way to develop a good list in the first place? Here are seven proven strategies for building your e-mail list faster. More digital marketing tips…
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More than a third (35 percent) of employers intending to hire temporary workers expressed concerns over the availability of agency workers with the required skills—with the construction sector expecting the largest crunch in this area—while almost half (47 percent) of employers said they were using agency staff to manage uncertainty. To read the full article in People Management, click: Falling Economic Confidence Now Affecting Hiring Decisions, Says Survey.
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Two-thirds of business leaders fear that their organization could become irrelevant if they fail to move to a “hybrid” workforce. According to research by Capita People Solutions, a successful transition to a combined human and artificial intelligence, or hybrid, workforce is the most important priority for 72% of leaders in the next five years. To read the full article in Personnel Today, click: Business Leaders’ Top Concern is Moving to a Hybrid AI-Human Workforce.
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Many of us today work in a cross-cultural environment. In such a setting, meaning may differ greatly when a writer comes from a culture different from that of the reader, whether the communication is between colleagues or those doing business with one another. This advice can help you compose and interpret professional correspondence. To read the full article in Financial Management, click: Avoiding Cultural Mishaps in Your Business Writing.